Banco Santander to issue up to 57 bln euros in debt over two years

Reuters Staff

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MADRID, Jan 11 (Reuters) - Spain’s Banco Santander will issue between 43 billion and 57 billion euros ($45 billion-$60 billion) in debt over the next two years to meet capital targets aimed at enabling systemically important banks to absorb losses, it said on Wednesday.

The euro zone’s second largest bank by market value said the funds would help it raise its capital ratio above 11 percent by December 2018 from 10.47 percent last September under the strictest criteria, fully-loaded CET1.